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Calculate the Free Cash Flows for UnderArmour for 2013 from the Excel file provided below - show your calculations. UnderArmour, Inc Consolidated Statements of Income
Calculate the Free Cash Flows for UnderArmour for 2013 from the Excel file provided below - show your calculations.
UnderArmour, Inc | ||||
Consolidated Statements of Income (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Statement [Abstract] | ' | ' | ' | |
Net revenues | $2,332,051 | $1,834,921 | $1,472,684 | |
Cost of goods sold | 1,195,381 | 955,624 | 759,848 | |
Gross profit | 1,136,670 | 879,297 | 712,836 | |
Selling, general and administrative expenses | 871,572 | 670,602 | 550,069 | |
Income from operations | 265,098 | 208,695 | 162,767 | |
Interest expense, net | -2,933 | -5,183 | -3,841 | |
Other expense, net | -1,172 | -73 | -2,064 | |
Income before income taxes | 260,993 | 203,439 | 156,862 | |
Provision for income taxes | 98,663 | 74,661 | 59,943 | |
Net income | $162,330 | $128,778 | $96,919 | |
Net income available per common share | ' | ' | ' | |
Basic (USD Per Share) | $1.54 | $1.23 | $0.94 | |
Diluted (USD Per Share) | $1.50 | $1.21 | $0.92 | |
Weighted average common shares outstanding | ' | ' | ' | |
Basic (In Shares) | 105,348 | 104,343 | 103,140 | |
Diluted (In Shares) | 107,979 | 106,380 | 105,052 | |
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and cash equivalents | $347,489 | $341,841 | ||
Accounts receivable, net | 209,952 | 175,524 | ||
Inventories | 469,006 | 319,286 | ||
Prepaid expenses and other current assets | 63,987 | 43,896 | ||
Deferred income taxes | 38,377 | 23,051 | ||
Total current assets | 1,128,811 | 903,598 | ||
Property and equipment, net | 223,952 | 180,850 | ||
Goodwill | 122,244 | 0 | ||
Intangible assets, net | 24,097 | 4,483 | ||
Deferred income taxes | 31,094 | 22,606 | ||
Other long term assets | 47,543 | 45,546 | ||
Total assets | 1,577,741 | 1,157,083 | ||
Liabilities and Stockholdersb Equity | ' | ' | ||
Revolving credit facility | 100,000 | 0 | ||
Accounts payable | 165,456 | 143,689 | ||
Accrued expenses | 133,729 | 85,077 | ||
Current maturities of long term debt | 4,972 | 9,132 | ||
Other current liabilities | 22,473 | 14,330 | ||
Total current liabilities | 426,630 | 252,228 | ||
Long term debt, net of current maturities | 47,951 | 52,757 | ||
Other long term liabilities | 49,806 | 35,176 | ||
Total liabilities | 524,387 | 340,161 | ||
Commitments and contingencies (see Note 7) | ' | ' | ||
Stockholdersb equity | ' | ' | ||
Additional paid-in capital | 397,283 | 321,338 | ||
Retained earnings | 653,842 | 493,181 | ||
Accumulated other comprehensive income | 2,194 | 2,368 | ||
Total stockholdersb equity | 1,053,354 | 816,922 | ||
Total liabilities and stockholdersb equity | 1,577,741 | 1,157,083 | ||
Class A Common Stock | ' | ' | ||
Stockholdersb equity | ' | ' | ||
Common Stock | 28 | 28 | ||
Total stockholdersb equity | 28 | 28 | ||
Class B Convertible Common Stock | ' | ' | ||
Stockholdersb equity | ' | ' | ||
Common Stock | 7 | 7 | ||
Total stockholdersb equity | $7 | $7 | ||
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash flows from operating activities | ' | ' | ' | |
Net income | $162,330 | $128,778 | $96,919 | |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' | |
Depreciation and amortization | 50,549 | 43,082 | 36,301 | |
Unrealized foreign currency exchange rate (gains) losses | 1,905 | -2,464 | 4,027 | |
Loss on disposal of property and equipment | 332 | 524 | 36 | |
Stock-based compensation | 43,184 | 19,845 | 18,063 | |
Gain on bargain purchase of corporate headquarters (excludes transaction costs of $1.9 million) | 0 | 0 | -3,300 | |
Deferred income taxes | -18,832 | -12,973 | 3,620 | |
Changes in reserves and allowances | 13,945 | 13,916 | 5,536 | |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' | |
Accounts receivable | -35,960 | -53,433 | -33,923 | |
Inventories | -156,900 | 4,699 | -114,646 | |
Prepaid expenses and other assets | -19,049 | -4,060 | -42,633 | |
Accounts payable | 14,642 | 35,370 | 17,209 | |
Accrued expenses and other liabilities | 56,481 | 21,966 | 23,442 | |
Income taxes payable and receivable | 7,443 | 4,511 | 4,567 | |
Net cash provided by operating activities | 120,070 | 199,761 | 15,218 | |
Cash flows from investing activities | ' | ' | ' | |
Purchases of property and equipment | -87,830 | -50,650 | -56,228 | |
Purchases of businesses, net of cash acquired | -148,097 | 0 | -23,164 | |
Purchases of other assets | -475 | -1,310 | -1,153 | |
Purchase of long term investment | 0 | 0 | -3,862 | |
Change in loans receivable | -1,700 | 0 | 0 | |
Change in restricted cash | 0 | 5,029 | -5,029 | |
Net cash used in investing activities | -238,102 | -46,931 | -89,436 | |
Cash flows from financing activities | ' | ' | ' | |
Proceeds from revolving credit facility | 100,000 | 0 | 30,000 | |
Payments on revolving credit facility | 0 | 0 | 30,000 | |
Proceeds from term loan | 0 | 0 | 25,000 | |
Payments on term loan | 0 | -25,000 | 0 | |
Proceeds from long term debt | 0 | 50,000 | 5,644 | |
Payments on long term debt | -5,471 | -44,330 | -7,418 | |
Excess tax benefits from stock-based compensation arrangements | 17,167 | 17,868 | 10,260 | |
Proceeds from exercise of stock options and other stock issuances | 15,099 | 14,776 | 14,645 | |
Payments of debt financing costs | 0 | -1,017 | -2,324 | |
Net cash provided by financing activities | 126,795 | 12,297 | 45,807 | |
Effect of exchange rate changes on cash and cash equivalents | -3,115 | 1,330 | -75 | |
Net increase in cash and cash equivalents | 5,648 | 166,457 | -28,486 | |
Cash and cash equivalents | ' | ' | ' | |
Beginning of period | 341,841 | 175,384 | 203,870 | |
End of period | 347,489 | 341,841 | 175,384 | |
Debt assumed and property and equipment acquired in connection with purchase of corporate headquarters | 0 | 0 | 38,556 | |
Increase in accrual for property and equipment | 3,786 | 12,137 | 157 | |
Cash paid for income taxes | 85,570 | 57,739 | 56,940 | |
Cash paid for interest | $1,505 | $3,306 | $2,305 |
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